September 19, 2019 / 5:07 AM / a month ago

Clariant fined by Swiss exchange for breaking publication rules

ZURICH, Sept 19 (Reuters) - Swiss speciality chemicals maker Clariant must pay a 750,000 Swiss franc ($752,861) penalty for breaking publication rules in relation to its failed merger with U.S.-based Huntsman Corp., the SIX Swiss Exchange said on Thursday.

Clariant announced the proposed merger on May 22, 2017.

“However, on May 19, 2017, Clariant had already disclosed potentially price-sensitive information during trading hours to Swiss Radio and Television SRF as part of a television report which was being produced for the TV show ECO,” the exchange said. “According to the provisions on ad hoc publicity, an issuer must inform the market of any potentially price-sensitive facts arising in the course of its business activities as soon as it becomes aware of the main points of such information.”

Clariant is not appealing, the exchange said. ($1 = 0.9962 Swiss francs) (Reporting by John Miller)

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